Loading ...SILVER – Shakeout – Fake Out – BREAKOUT!
Yesterday, we got the final rug pull in Silver with the release of the PPI number. The Comex crooks dropped it sharply for a final, short covering flush.
We saw wild swings with the intention of shaking people out or just keeping them on the sidelines. Buy every dip. It is going to break out this week and run towards my $30 target, by month end, as posted on Monday.
It is not surprising that gold would pullback after kissing $2200. I expected it to trade down to that Dec. spike high at $2150 which will provide a floor going forward. Now that gold is well into ATH territory it becomes less of the main event. It will work it’s way higher with normal pullbacks along the way.
The focus now moves to silver. We are now on silver watch just as we were previously on gold watch. Silver should reach $30 by the end of the month.(quarter) The old $50 target will be the focus in the second quarter and might actually line up with the now June FED meeting for a likely interest rate cut.
Lets Go
What a call, again! Great going, Sir CM!
GL
Thanks, GL. By the way remember in my response to your inquiry about HMY I said that if it were me holding HMY, I would use your philosophy of trimming a little as it approached that double top area around 8 but would hold the bulk of the position for higher prices. You could be seeing 10 and 12 in due time.
Sir CM,
I did trim my HMY holdings on March 11th, selling 8% at 7.68
It did dip lower than that level, low was 7.51. But it is at a new 52-week high already.
I’ll sell more at 10 next.
The other one I trimmed was a junior MWSNF, selling 5% at 0.4836.
Next planning to reduce some EQMEF when it reaches the 0.17-0.18 level
GL
You are a Man with a Plan. Well done.
Sir CM,
You’re just too kind to compliment me on my little wins.
Given that massive gains may lie ahead, I may be selling some partly too prematurely, but this is the nature of this beast.
I was eyeing AG under 4.5 but missed the 20-22% move. The question now is whether my other silver juniors can outperform AG? If yes then I win even though I’m not in AG. But if silver has a dream run AG would double even from the 5.5 it is at today.
Let’s see.
GL
$30 by month end would be a more impressive call than your bottom call, IMO.
I have been holding HL and EXK for 4 years. The last couple of months have been extremely brutal, especially with the conventional market taking off. I sincerely hope it’s off to the moon for them both now. EXK was hit especially hard and dropped over 50% from last years highs–it has a lot of ground to make up, that is for sure.
silver priced in yen ($silver:$xjy) is about to break out of a year long consolidation and make a run for the 2012 high, which is not very far away.
IF USD breaks below 101, it is headed to 96 based on the H&S target.